827 S Stephenson Avenue, Iron Mountain, MI 49801
MULTI_FAMILY - Split Level - Iron Mountain, MI
- Added:
- May 19, 2026
- Days on Market:
- 48
- Last Refresh:
- Jul 5 at 9:06 pm
Property Features for 827 S Stephenson Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 2, Basement, Bedroom 1, Bathroom 1, Bedroom 2
- Parking features
- Driveway
- Appliances
- Range/Oven, Refrigerator
- Standard status
- Active
- Size
- 1,092 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2225
Utilities
- Heating system
- Forced Air
- Cooling system
- Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1916
- Floors in Building
- 2
- Number of units
- 2
- Architectural style
- Split Level
Listing agent THOMAS MINER License #6501448767 (906) 221-7955
Listing office MULTI STATE REALTY 332 S Stephenson Ave, Iron Mountain, MI (906) 828-2525
Listing date May 19, 2026
Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Two properties sold together: 827 and 831 S Stephenson Ave (MLS #50208093 and MLS #50208094)
- Each address has upper and lower 1 bed, 1 bath units for multiple income‑producing rental spaces
- 831 includes a lower unit currently used as a business space (in addition to the 1 bed, 1 bath unit layout)
- Shared driveway serving the separate parcels at 827 and 831
- Both homes have public water and include appliances such as a range/oven and refrigerator
- Heating is forced air; cooling includes ceiling fan(s)
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.7k | $18.00 |
| − Vacancy | −$4.3k | −$3.94 |
| EGI | $15.4k | $14.06 |
| − OpEx | −$3.8k | −$3.51 |
| NOI | $11.5k | $10.54 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Iron Mountain
- County
- Dickinson
- State
- Michigan
- Longitude
- -88.063136
- Latitude
- 45.81489
